Michael Saylor is Feeling Bullish Once Again
The well-known Bitcoin bull MicroStrategy’s CEO Michael Saylor has just purchased more Bitcoin, spending over $190 million on the mother-of-all-crypto.
Saylor unveiled the news on his official Twitter handle, posting the official US Securities and Exchange Commission 8-K form to validate the transaction.
The company used its subsidiary MacroStrategy to make the transaction, making a hefty addition to its pot of $129,218 BTC worth almost $4 billion. The latest purchase was reportedly made between February 15 and April 4, 2022 Earlier in March MacroStrategy received a $205 million loan collateralized by BTC holdings under the bank’s Silvergate Exchange Network Leverage program. Commenting on the decision, Silvergate CEO Alan Lane underscored that his company is thrilled to have MicroStrategy among its clients: “Their innovative approach to treasury management is an exceptional example of how institutions can utilize their bitcoin to support and grow their business.” In 2020, MicroStrategy, which claims to be the leading independent publicly traded analytics and business intelligence company with a focus on growing enterprise analytics software business to promote a vision of intelligence acquiring bitcoin as a dependable store of values, converted almost all of its capital into Bitcoin. Back then Phong Le, President & CFO, MicroStrategy Incorporated, noted that “the company continues to believe bitcoin will provide the opportunity for better returns and preserve the value of our capital over time compared to holding cash. We also remain dedicated to our customers and our goal of operating a growing profitable business intelligence company.” A year later he added that “we believe our bitcoin strategy, including our bitcoin holdings and related activities in support of the bitcoin network, is complementary to our software business, by enhancing awareness of our brand and providing opportunities to secure new customers.”
MacroStrategy has purchased an additional 4,167 bitcoins for ~$190.5 million at an average price of ~$45,714 per #bitcoin. As of 4/4/22 MicroStrategy #hodls ~129,218 bitcoins acquired for ~$3.97 billion at an average price of ~$30,700 per bitcoin. $MSTR,the tweet reads.